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holiday season in four years, we talk with a top retail analyst. president obama and congressional leaders cut their vacations short, to deal with fiscal cliff negotiations. they have five days to make a deal. and housing continues to be the bright spot in the u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues. many consumers hit the malls today to return gifts and buy what they really wanted. and this is the time many gift cards get redeemed. but for retailers, holiday sales so far have been a flop. sales in the two months leading up to christmas, rose just 0.7%, according to mastercard advisors that tracks the numbers. that's way below what the retail industry was predicting. erika miller spoke with retail expert dana telsey and began by asking what happened. >> i think there were a confluence of events, extra long season. hurricane sandy. tragedy in ct. >> none of the events out there were feel good factor events. it was all for consumer morale. >> when you look at the wea
happening. that was the whole point of president obama's press conference this afternoon. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> allow me a quick update here. that press conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. i just have to repeat. you know, outside of washington, nobody understands how it is that this seems to be a repeat pattern, over and over
. >>> president obama has called congressional leaders from the white house today in a last ditch effort to avoid the fiscal cliff. coming up the sign the lack of deal is already hurting the u.s. economy. >>> the contra costa -- they are in the fire chief and board members. we've posted the list of times on the hot topics page of ktvu.com. >>> people in the midwest open -- snow if flow -- and it could be that way for a few days. the deaths of more than a dozen people in several states are if if >>> the -- he was taken >>> a few hours later bart trains were held at the concord station because of a report with a man with a gun. the police activity did cause delays on the pittsburgh bay point line. those reports were not related to the earlier shooting and nothing was found. >>> the brawl that caused wide spread panic inside a mall caused -- no shots were actually fired but there was a brawl. police arrested three people. all the commotion led to a lock down and likely kept thousands of post christmas shoppers out of the mall. there is no estimate on how much money businesses lost. experts tell the
, rather than obama's massive expansion of government as the only means to stimulate the economy. jon: thank you both from each side, what is left of the fiscal cliff. harris: protecting children in schools after the tragedy in newtown, connecticut, some teachers are wanting to have guns in school. one attorney general says yes. he is standing by to talk with us next. also, the latest on george w. bush and his condition. the 41st president and why report yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. jon: there is growing support for the federal government to sell off billions of dollars worth of its property to help pay down our ballooning national debt. unused buildings, land and other assets could fetch billions, perhaps even trillions on the open market. what do you think of that idea? william la jeunesse live in los angeles with more on this. william? >> reporter: well, jon, why not have a massive garage sale? th
're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to remember now, we're just a few days away. >> if no deal is reached over 2 million americans will lose their jobless benefits and workers will see a 2% cut in take home pay as social security payroll taxes go up january 1st. jennifer johnson, nbc news, washington. >> well, around this time of year, there is a big surprise that happens on the rockefeller center ice skating rink outside our news world headquarters. it happens about half a dozen times a day every day. erica hill has the story. >> right outside our doors at rockefeller center, home to the christmas tree, we often hear an plows this time of year. and when we do, we know it means something special is happening. >
president obama had twice argue in public that raising taxes in an economic downturn would doom the economy. the president of the united states said that and iran on a proposal. lou: two things that seem peculiar. i would love for both of you to respond. i heard a lot of bonn, abou the tea party. the tea party did not exist in this election. it was a non fctor. why in the world would there be so much concerin the republican party about the tea party. why was there an idea that you're better off today than you were four years ago and pick 2008 as the year, he baseline, and it was a lousy year. in point of fact, just about everybody is. what o you make? very quickly. >> your immediate questn, yes, we were better off than the depths of being in a whole. president clinton explained the argument that we were climbing t. by that time election day, th percentage of people is of the country going in their right correction,saw the economy improving, higher than has been, ronald reagan when he was reelected. lou: i don't have the time. >> he was there. lou: this is the -- why did he call -- mixing hi
. >> there is late word tonight that president obama will cut short his christmas holiday in hawaii. he plans to leave for washington tomorrow night. he and lawmakers will try to prevent the economy from going over the fiscal cliff. anyone who has not taken advantage of the homestead tax credit better act fast. if you have two days left to save hundreds of dollars at tax time. postmarked by december 31, or you will have to wait another year. its stems from legislation enacted in 2007 by the state general assembly. homeowners must apply to maintain eligibility for the credit. still ahead, aerial volunteers spent the holiday serving others. an organization will help keep hundreds and warmer this winter. and that when a missouri school did to put a smile back on their custodian's face. >> the weather is going to turn active as we had through the next of the week. partly to mostly cloudy. 36 at the airport. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you
's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cuts for working americans. >> reporter: early on, two key moments changed the subject that helped the president. >> i think same-sex couples should be able to get married. >> the supreme court has upheld that every american buy health insurance. >> reporter: in june, president obama announced a new policy that wo
yen to continue and more stimulus heading into the japanese economy, as well, given the indications we've had out here over the past recent weeks, kelly. >> louisa, thanks very much for that. the top story today, president obama is launching a last ditch effort to restart budget talks days before the u.s. economy going over the fiscal cliff. the president will meet with congressional leaders at the whiteout at about 3:00 p.m. eastern. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. spending majority leader says harry reid says prospects for monday are unlikely. senate majority leader believes there is still time for an agreement to be reached. >> republicans aren't about to sign a blank just just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> alistair newton joins us here as a new reuters poll shows americans blame republicans more than democrats or pr
in washington this afternoon as the nation edges closer to the fiscal cliff. president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. they only have four days to reach an agreement or the u.s. economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at whatever he proposes but the truth is we're coming against a hard deadline here. i said this is a conversation we should have had months ago. >> former president george h. w. bush is still in intensive care at a hospital in houston with a stubborn fever. the family is, that he will be out of the i see you sound. the chief of staff said sup
class economy, the u.s. economy, and the world economy are not adversely affected. thank you very much, everybody. >> you just heard from president obama talking about the meeting he had at the white house today with four congressional leaders. he said it was a good and constructive conversation. the news is that he said majority leader harry reid and minority leader mitch mcconnell are currently working on a bipartisan agreement, but if there's no agreement, the president will urgicenter read to bring a package to the floor -- urge senator reid to bring something to the floor for an up or down vote. we will have more on the president's comments and the negotiations ahead at 6:00. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that?
for the bureau. that is why japanese correspondents cover the german economy and politics. merkel was a bit hesitant at the start of the year of crisis. she did not take the lead as much as obama and the u.s. had hoped, but she has gotten better. >> there is this a dominant role, and we do not have much of a say, even though since spring, our president, unlike his predecessor, sarkozy, has tried to stand up to the german chancellor more. >> president francois hollande, together with italy and spain, pushed back against germany's strict austerity plans for europe. the amended year, there was a sense that germany might cut in its place, the southern european countries were going to build up a counterbalance, but that has not really been borne out. especially since hollande never followed through with his drive to renegotiate the fiscal pact. that did not happen. >> for germany, that meant sticking to the status quo. chancellor merkel met with the greek prime minister in october. she made it clear that austerity remains the number one priority, but her message is not popular with the greek peo
with the ongoing negotiations between congress and president obama regarding, um, the so-called fiscal cliff could be a one, two combination knock out for nation's economy. >> if a strike does happen that means a big chunk of the more than 14,000 members of the international longshoresmen association will be off the job. >> reporter: the ports impacted generate an estimated $11 billion in state and local taxes annually. but losses from any strike will be felt far beyond the coast, with industries as diverse as agriculture, manufacturing and retail taking a hit. that's got the national retail federation urging president obama to intervene: >> the ports are a critical component to the u.s. global supply chain and a potential strike or shutdown to the ports not only impacts retailers but all other businesses who rely on the ports to move the nation's commerce. >> reporter: the sticking point in negotiations: a decades old law, called the container royalty fund. it was established in the 1960s to help dockworkers displaced by technology, the port alliance says these days those royalties serve as a bon
the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a deal the coffee giant starbucks is asking employees in approximately 120 washington area cafes to write the words "come together" on cups for drink orders. >> we just wanted to have a subtle message of co
coming up later this morning. >>> the president is cutting his holiday vacation short. president obama will leave hawaii later today. lawmakers are heading back to washington to consider how to prevent the economy from going over the so-called fiscal cliff. they have less than a week to come up with a solution or everybody's taxes are going up. >>> you need to get ready for some round-the-clock gaming action at maryland live casino. beginning tomorrow customers will be able to enjoy nonstop action 24/7, 365. casino doors will swing open and remain open beginning at 8:00 a.m. tomorrow. >>> you want to see the raven's wildcard playoff game? tickets are available, but there are not a lot of them. a few thousand tickets will be available for public sale beginning this friday at 10:00 a.m. the ravens will play january 5th or 6th. you can get tickets through ticket master. >>> today is the first day of quawns a. it's a celebration of community, family and culture. the weeklong festivities end with a feast and exchange of gifts. unity, self-determination, collective work and responsibility,
on the economy, would it not? >> it would, adam. real quick, a bit of news here. president obama will deliver a statement at 4:45, something i imagine we'll cover live here on fox business. adam: we will. >> 5:45 president obama deliver as statement here at the white house. as far as spending cuts are concerned, you see this argument, you typically hear republicans say, government spending doesn't create jobs. however when it comes to a number of defense cuts when it hits in their districts a number of them, if it hits companies in their districts well you have to stop defense cuts using an economic argument. when you talk about the $94 billion, well, yes there are economic effects that will be felt, the $94 billion in cuts down as sequester, you have to put that in perspective the sandy supplemental bill started out $60 billion. one storm could wipe out all the savings or. adam: that sandy supplemental bill is 60 billion, 45 billion according to taxpayers for common sense is stimulus spending that doesn't involve the hurricane. dan, i will come back to you after we listen to sound bite from
in washington, as well as your own. but now president obama will be speaking in charlotte at the bank of america stadium, and the economy is a major issue, also deeply linked to the war. what are your thoughts today about where we have gone in this four years? rep. john lewis: well, it is- it's my hope that president obama and the democratic party will recapture the hopes, the dreams that people had four years ago, and have a platform, a program, where we must go now. how do we rescue and save people? how do we give people a feeling that they can survive, they can make it in america? people-many people lost their homes, their jobs. we must say, there is a way out, there is a better way. they cannot be shy because the convention is taking place in the bank of america center. they've got to be strong. they've got to tell the truth. amy goodman: do you think people should be protesting as president obama is speaking? rep. john lewis: well, i don't know. if people feel that something is not right, is not fair, they have a right to protest. amy goodman: do you feel it's not right? would you be protes
a little recap the re-election of president obama. the debates over the economy. guest: it is about as fractious as it could be. washington is a divided city. the fiscal cliff -- i believe both sides know what to do. it is going to be painful. either raise taxes or cut spending. both need to be done. our taxes are going to go up. some good programs will be cut automatically on january 1 if they do not come up with an agreement. that was designed by the politicians to deal with the fiscal problems. it reminds me of the old "national lampoon" comfort that if you don't buy this magazine, we will shoot this dog. save us from ourselves or help us save us from ourselves. it didn't work. they have about a week to go. i suspect they will kick the can down the road. a short-term way to get is passed the immediate collapse of what is stalling certain cuts. maybe unemployment benefits, that kind of thing. i think there will give a short- term answer. host: a lot of headlines are about the republicans and their caucus. what about democrats? are they at fault as well? "we do not want medicare to
, everybody. in the news, president obama arrived in hawaii for his holiday vacation, but with no deal. to keep the economy from going over the fiscal cliff. before leaving, the president pushed congress to approve a stripped-down measure to keep taxes from rising but for all of the wealthiest americans. >>> and a former marine held in mexico for months is back home. jon hammar was arrested trying to cross into mexico with a shotgun that belonged to his great grandfather. >>> and twinkies could be back on store shelves. the company says it's close to selling its brand. >>> finally, a major milestone for the biggest viral video ever. psy's "gangnam style" has become the first video to reach, check this out, 1 billion views on youtube. in second place, i'm told, was a video by our friend, justin bieber. >> does the mayan end of the world prophecy didn't come true. but there are some signs. >> and by the way, my step kids corrected me. it's "gangnam style." >> what did i say? >> it's "gangnam style." >> all right, bianna. we'll talk later. >>> time for the weather and ginger zee at o'hare
american, spending cuts that could cripple your family's budget and drag the economy back in recession. president obama not looking too worried about that. he spent christmas eve playing a round of golf in honolulu with friends. with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to cobble together when the senate reconvenes on the 27th and that's really the last-ditch effort. it's seen as the senate trying to do something that can also pass the house, so this is exactly what you would expect. the real problem though is as of this morning, just a week out from when the fiscal cliff is expected to hit. there's no discussions between congressional democrats
for businesses to invest in the u.s. economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exc
and if you years is crucial for retailers. despite a surging bay area economy, sales are expected to drag on national retailers. in san francisco, christian cap, ktvu channel 2 news. >>> president obama is expected to head back to washington from hawaii tonight. today, house speaker john boehner said it's up to the senate to pass legislation to avoid the steep cuts and tax hikes that are set to take effect january 2nd. some observers say it looks likely the u.s. will go over that cliff allowing lawmakers then to vote to lower taxes after they first go up. >> to make them look better? to appease voters? is that the reason? great. . >> meanwhile, another showdown is looming. the government will hit its federal debt limit on new year's eve and could default unless congress passes legislation to permit more borrowing. >>> the passage of proposition 30 gave governor brown the extra money he wanted for california schools. now he's working on a proposal to differencevy up the funds. eats work -- divvy up the funds. >> he wants to return more accountability, authority and decision-making down to
. later, president obama weighed in. >> the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. the economy is growing, but sustaining that trend is going to require elected officials to do their jobs. >> reporter: and back at the capitol, senate majority leader, harry reid, described the meeting as constructive. >> we're out of time. we've got to do it now. that's why the next 24 hours will be very important. >> reporter: a source familiar with the talks told nbc news the president reiterated the proposal he presented before leaving on vacation last week. calling for, among other things, a tax cut extension for those making $250,000 or less. and extending unemployment benefits that are set to expire. the source says the president is confident his plan can pass in both the house and senate if republicans allow a vote. earlier in the day, republicans blamed president obama for the stalemate. >> i agree that it is the president's responsibility to lay out a plan and to bring people together. but it's a total der
, and it could launch the economy back into a recession. president obama spent christmas eve playing golf with friends in hawaii, and right now the senate looks like the last hope for neglect getting past the fiscal krif. want to go to the white house correspondent briana keilar who is traveling with the first family in honolulu. any discusses at all that you're hearing from from sources in either party right now? >> reporter: some discussions, but they are not really surprising ones, dana right now we understand that the white house is talking with senate democrats, and this is exactly what you would expect ahead of the senate reconvening on the 27th when it's really up to senate majority leader harry reid to try to figure out some sort of measure that can get some republican support in the senate and some republican support in the house in the hopes of averting the fiscal cliff. this is really a bit of a last-ditch effort, and instead of tackling sort of the big issue of dealing with the long-term fiscal health of the country which is what the fiscal cliff was initially supposed to be a
is how obama is obsessed with the 2% he is on class warfare disability. he no longer sees the big picture, which is the economy. can economy is going to hell. he is ahab and the whale is the wealthy. priorities of a stalker. out to eradicate the successful. to me, that is the real achievement of the administration is the eradication of achievement. eliminate successful from the lexicon and replace it with rich rather than call you successful, we call you rich and that makes it easier to take your wallet. >> bob: make a point. keep in mind that the treasury dropped a little bomb on everybody this week saying that the debt ceiling was up on december 31. >> andrea: glad you brought that up. >> bob: i think what will happen here now, i say a deal is done. i have been around long enough to know they will not let the debt creel gog or everything else go. there may be a patch but they will get through this thing. >> eric: that is b.s. >> greg: watch your languag language. >> eric: do you remember the gang of six and supercommittee failed? we were supposed to have in law sequestration cuts that h
it is now up to the president and g.o.p. is continuing to hammer away at president obama. >> this is the year size of our debt surpassed the our economy. a grim milestone if we don't come to grips to w it. the president's plan to raise tax rates ko could still be as far as eye could see. >> reporter: president obama will return after christmas and work on fiscal issues. he believes a comprehensive deal could be reached but he seems to be acknowledging for scaled back plan for cutting taxes on the middle-class. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agree that tax rates shouldn't go up for the other 98% of americans which includes 97% of small business. >> reporter: president said the middle-class tax cuts achievable in the next ten days and he wants to preserve unemployment benefits that is set to expire for two million americans. >> gregg: steve, thanks. >> heather: what would it mean if lawmakers fail to sfreiblg a deal? 90% of americans would see a tax
. on the show today, we'll move past the fiscal cliff and talk about the real challenges to the economy. i will talk to the chief economic adviser of the romney campaign and president obama's former budget czar peter orzack, among others. >>> also, let me tell you about the biggest success story in latin america. it's not brazil. much closer to home. then, as the world watches the arab world struggle with democracy, we'll take a look at the problem from an unusual perspective, upside down. how does a country turn away from democracy as eastern europe did 50 years ago? i talked to pulitzer prize winning historian anne happalbaum. >>> the administration had a choice save chrysler by injecting taxpayer dollars or let it fail and let it lose perhaps a million jobs. car czar steve ratner gives us a fascinating inside look. for viewers in the united states, we have a special tonight at 8:00 and 11:00 p.m. eastern and pacific called "tough decisions." >>> but, first, here's my take. announcing that he would send proposals on reducing gun violence in america to congress, president obama this week
in east oakland. >>> president obama summoned congressional leaders to the white house today for a last ditch effort to stop the economy from going over the fiscal cliff. they only have until january 1st to avoid tax increases. >> highway patrol and local law enforcement agencies will be cracking down on drunk drivers this holiday weekend. there will be more patrols and extra dui check points all over the bay area. >>> the contra costa county districts attorneys office is investigating two separate police shootings. the latest happened last night. officers were called to a chevron station around 6:40 last night. they saw a man pistol whip a woman. the two officers opened fire. the suspect was taken to the hospital where he is in critical condition this morning. the two officers have eight years of experience between them. >>> we are learning more about the walnut creek police shooting we first reported at this time yesterday. two officers responded to a 911 call from an apartment on creek side drive. the dispatcher heard screaming in the background. when officers arrived they found the
david stockman acts. and suzanne somers on lala land going gaga over presiden obama. but next, ralph nader has had enough. he says that both parties in washington are flailing. and that is why the economy is woman: something's not right. woman: my first symptoms were... man: constant tingling in my toes. woman: i had double vision. woman: they said, "you have multiple sclerosis." man: i kind of had to get a grasp on reality. man: i had to adapt and change very rapidly. woman: i had to learn how to drive with my hands -- yeah, that was interesting. man: a symptom may cause you not to be able to do that anymore, and at one point, i was able to do any of those. man: since i've been cycling, it's definitely helped my walking. woman: it's a fantastic opportunity to be working together with a common goal of curing ms, and sharing is the key. you realize that 49 million americs struggle with hunger? that's one out of every 6 americans. hese people are around us every day. they're our friends, they're our coworkers, their kids go to school with our kids. sometimes we're not even aware that t
challenges as president obama when it comes to the economy. li. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. >>> once again there is a new prime minister in japan. he is shinzo abe, the japanese parliament elected him today five years after abe abruptly resigned from the job. he's japan's seventh prime m
that egypt is too big to fail, although the obama administration doesn't have a political vision for egypt and isn't really interested in engaging on that level, so for them it's help the economy. that is really the obama administration's policy as far as i can tell. so i think the international community is still committed to seeing that through. the question is how is morsi going to handle that? and we just saw the recent situation where he raised taxes and then his own party, the fjp, criticized and then others criticized him, and then you see him pulling back. part of the problem is to really be able to engage in these economic reforms you need to have some degree of societal outreach and consensus, and unfortunately, morsi has not shown a strong suit for that. and we're also talking about a presidential office that is very understaffed. they're over their heads. they're learning on the job. so there is also this issue of incompetence, which is why i think going forward morsi is going to have to rely more on the brotherhood because they actually do have some of the expertise, some of t
. this is something that the press doesn't pay attention to, greg. i think if obama to start a second term with everybody saying oh my gosh the ski is falling and the economy is going to hell. consumer confidence thinking that's nod goodous for democrats. how why think it's good news for democrats? >> you just sounded like a republican. >> stop, get out of here. the fiscal cliff is defense cuts and high taxes welcome to the republican party. >> rational people say that's not a good thing to do. i would hope that robert and sober behavior before new year's eve would land like an alien rocketship in washington and get these people to the table. >> greg: alice, you are sane, i believe. what do you make of this? the point i'm trying to make is why are the democrats scared of the fiscal cliff when it defines basically their ultimate dream? the democrats are anxious. they are embracing the fiscal cliff. we got obamaened a democrats in the conservative thunder bird ready to put the pedal to the metal on the fiscal cliff. they can raise taxes. they can cut military spending and they can blame the
for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for someth
,000 dock workers prepare to strike from maine to texas, a huge blow to the economy for retailing and manufacturing. lawmakers are getting more skeptical of kong -- that congress and president obama can reach a deal. house republican leaders cancelled a vote on speaker boehner's plan b. driving is costing you less, gas prices dropped to the lowest level in a year. enjoy it while you can. lumberg says prices may rise as much as 10 cents a gallon over the next few days as refiners and gas stations try to recover some lost margins. google designing a smartphone. sources tell the "wall street journal," engineers at motto rolla working on a top secret -- device dubbed the x-phone a bendable screen. the paper says google is looking to release it sometime next year. at the new york stock exchange i'm ellen brightman with the bloomberg business report. >>> widespread flooding across parts of the u.k. have left many facing a damp christmas hardest east-northeast scott , scout west england and wales. cornwall has more than -- 200 flood warnings in place. flooding is disrupting holiday trave
that basic math, other than grow the economy. humiliating the jobless is not going to do it, the only good news is that obama and democrats do seem to be committed to making sure that unemployment is part of whatever eventual deal is passed. republicans backs are up against the wall here, there's a decent chance it gets in, at least shortly after the new year if we go over the cliff, then they'll be eligible for retroactive benefits. the hilarious thing here is how extensive this chaos is. all of these unemployment offices are going to have to send out letters and they're going to have to recon figure their computer systems and do it all over again. put people through all of this heartbreak over nothing. >> well, clearly, the unemployment are the ones that are going to get stiffed here. they are benefits, doesn't speak to the fact they'll have needs that won't be met immediately, if they had some reserve, they'll be fine. most especially, those who are poor and vulnerable don't have those reserves. >> right. >> let's listen to senator john barrasso on president obama's position. >> i think
100% of what they want, but let's make sure middle-class families and the american economy, in fact the world economy, aren't adversely impacted. thank you very much, everybody. >>> right now at 6:00, president obama just wrapped up a news conference in which he said he is modestly optimistic a deal can be reached to avoid the fiscal cliff. >>> doug is tracking the storm that could dump about 2 inches of snow this weekend. will your neighborhood get snow or rain? >>> a showdown. they're about to throw down at fedex field. we'll have the coverage. good evening. >> >>> our top story, the snowstorm that's expected to arrive overnight is going hey, look! a shooting star! make a wish! i wish we could lie here forever.
the president will step forward. here he comes. president obama on the fiscal cliff. >> good afternoon, everybody. for the past couple of months, i've been working with leaders of both parties to try and frnlg an agreement that will grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it's the right thing to do for our families, for our businesses and for our entire economy. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do for our economy it would be bad for middle class families and it would be bad for businesses that depend on family spending. fortunately congress can prevent it from happening if they act right now. i just add good and construc
our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can only pass from democrats and republicans and no one gets 100 percent of what they want. everyone has to give a bit in a sensible way. we move forward together or not at all. in addition to making bush era tax cuts permanent for the middle class. let president want to preserve unemployment benefits if congress doesn't act. that know amount to an achievable goal and something that can get dun before the end of the year. >> steve, thank you for that. and now turning to the scathing report against the state department. it is fueling out a debate over what they call the grossly inadquate security at the benghazi compound. that attack led to the de
anyway, just to support the economy. because i enjoy it. >>> coming up, president obama heads back to the white house today to work on the ever looming fiscal cliff. can he cut a deal with republicans. >>> and david gregory may be in trouble of the law because of that ammo thing he has on his anchor desk. [ male announcer ] the more you lose, the more you lose, because for every two pounds you lose through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] by the armful? by the barrelful? the carful? how about...by the bowlful? campbell's soups give you nutrit
. that is $12 million to $13 million per year for the san francisco economy. >> and there is new hope tonight that lawmakers may not lead us over that fiscal cliff after all. coming up next, president obama draws a line in the sand. we'll explain his plan for averting a tax hike. >> thank you for calling. >> i team reveals why a state agency is too busy to take your calls. >>> a late afternoon meeting brings progress towards avoiding the fiscal cliff. tonight abc 7 news mark matthews has been looking into the cost governoring over the live cliff. >> remember, last year it? was part of a deal to end the debt ceiling crisis. congress agreed to steep a spending cuts going into reduce the deficit. cuts now are just around the corner. >> the president says he's optimistic but did f.a deal can not be reached he'll tell hairy reid to introduce a fall back bill. >> put a bill making sure tax on middle class families don't goup, that unemployment is available for two million people z that lays ground work for additional deficit reductions and economic growth steps we can take in the new year. >> the b
. they control the senate. it is their economy for sure. so i think that you're going to see a real problem in 2013 and 2014, but i do think it's obama's onomy now. the republicans passed the tax cuts for one group, let's say all the way through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republicans, which party led the discussion to the enduring that of the middle class sure enough, president obama shifted to a middle-class message that resonated, if only at the margin that was sufficient for victory. are the republicans learned anything here? are they going to start talking about working men and women? working class and the american dream. >> i think they are. i think the presidential race was a real problem. because itas never growth. it was always about this and tha
that a deal could be reached but in a speech, he continues to hammer away at president obama. >> this was year the size of the debt, all $16 trillion of it surpassed the size of our entire economy. it's a grim milestone, one of many that we'll have to bear if we don't come to grips. the president's solution of raising tax rates would still leave red ink as far as the eye can see. >> the president landed in hawaii for a shorter than usual christmas break. he will return to washington after christmas to walk on the fiscal cliff. he is acknowledging the political reality by pushing a scaled back plan for a tax on the middle class. >> even though democrats and republicans are arguing about whether those rates should go up for thewealthiest individuals, all of yours, every single one of us, agrees that tax rates should not go up for the other 98% of americans, which includes 92% of small businesses. >> reporter: the president wants that middle class tax cuts and wants to preserve unemployment benefits which are set to expire at the end of the year. >>> funeral services were held today for former fe
the department of energy and that is paid by you. >>> 2012 was a nail biter from a bruising economy to a high spirited presidential campaign. we take a look at a year that was. >> 2012 was a make or break year for political careers speegsly in the campaign for the white house. president obama remained unopposed and was a shoe in. plans for recovery made the 44th president vulnerable. >> the president's policies have clearly not been successful in reigniting the economy putting people back to work. >> his party's nomination was not as easy as former massachusetts governor mitt romney. he declares winner of the iowa caucuses he had to share the win with rick santorum. he went on to win the victory in key primary states becoming the nominee he emerged bruised. >> i don't see how a massachusetts liberal is going to do better. >> he is the worth republican in the country to put up against barack obama. >> romney's campaign saw their roles up and downs and confident and in demand. romney knew he gained with a president's shaky performance. >> it sets the tone and can have the most impact. this is a
this, he also says health care costs could double for some groups by 2014 due to obama care. we've got aetna's ceo coming up next. >>> and also just what our economy needs right now. just how will harsh weather impact your money as we wrap up the year? we'll break it all down for you right here on cnbc. cnbc. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5412. your doctor will say ge
the outcome of the election. >> well, this election, i think, was a very curious one, because president obama made some history. normal lee an incumbent with an economy that weak and no particular prospects of it getting better wouldn't have won re-election. but president obama was able to take advantage of i think dramatic stumbles on the part of mitt romney, the 47% line and various other things, absolutely. kelly: does it surprise you that mitt romney's people took so long to address that when it was out there, bain capital, the 447% 47%, it all stayed out there and it seems like his people fumbled with the ball. >> mitt romney was a very competent business executive but frankly stiff and he never really communicated with the american people. the bottom line is if you ask people on election day who they thought had a better vision and. bret: program forountry they said mitt romney, but by 82 to 16% they said president obama cared more about people like them than mitt romney did. kelly: one of the top stories that really had an impact, if you will, on the campaign was hurricane sandy coming
's the chief market analyst at john thomas financial. president obama is due back in washington tomorrow, cutting short his hawaiian holiday vacation. he will be meeting with congressional leaders for one last push to prevent the economy from falling over the fiscal cliff next week. no specific bill is on the schedule in the senate or the house, and house republicans haven't yet called their members back to washington. and hopes for a deal by the december 31 deadline are fading. darren gersh reports. >> reporter: the odds of avoiding the fiscal cliff did not get any better over the holiday. staff discussions continue, but there were few signs much, if anything has been accomplished. the house isn't even scheduled to return to washington yet, leaving it up to the senate to act. >> this is a senate that is incredibly divided, hopelessly partisan, requires 60 votes to do anything and somehow, we are going to be relying on them to in five days, come up with a compromise which is acceptable where a compromise wasn't acceptable in four years. >> reporter: it now looks like some kind of fall ov
obama and with republican senator roy blunt. >> hi, . i have been working to come together around a plant to grow the economy and shrink our efforts -- deficit. it is a balanced plan, one that would cut spending in a responsible way and ask the wealthiest americans to pay a little more. i will keep working with anybody serious about getting a comprehensive plan like this done because it is the right thing to do for our economic growth. we are not at the point where in a couple of days, the losses at the americans' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that pr
was when hank paulson said this is the past they would no economy on monday. do you think with romney or obama if another such moment occurs, the tea party types listen to people like that and still send the economy down the drain? >> there's a moment tonight for more allies make the during the debt ceiling stand of it is real illustrative of the thinking of the more conservative flank of the republican party. the house leadership, boehner, cancer, et cetera. asking your question because i can't speak specifically to that in the future. but they were concerned. they believe the debt ceiling needed to be raised. they believed the credit of the united states is a dangerous proposition . they believe the default would be a terrible thing for this country. because they could see fellow members did not believe that to be the case, they brought in this former treasury undersecretary who served in the herbert walker bush administration to explain a dispassionate way what would have been put on the second came and went in the gasoline was appraised. he sort sort of gave her a powerpoint prese
: a vocal republican in his earlier years, buffett now leans left and is a big obama supporter. >> we were talking about the economy. >> reporter: what else. >> i brought along figures i thought would be of interest to him. this is the presidential medal of freedom. >> reporter: he's never had political ambitions like his father. >> that's my dad's campaign picture when he was 39 years old. this is my dad's desk. this sat on his desk when i was a kid, when i was 10 years old. i always admired it. >> reporter: this is my favorite thing in your office. i need one of those. the too hard box. >> the real problem is if they're in there and i don't realize it. >> reporter: then there are the fun things, like the model mars rover, given to him by students at cal tech. >> thattette bas getting a t-shirt. >> reporter: and the mock "sports illustrated" cover. >> if they ever bring me out it will be as water boy. >> reporter: no fancy flat screen tv, just an old tube. >> no computer. >> reporter: that means no e-mail, perhaps the secret to buffett's success. poppy harlow, cnn. >>> 17 minutes after th
he was treated for bronchitis and a cough. >>> president obama has cut short his vacation to return to washington where he is going to try to hammer out a deal with republicans to avoid sending the economy over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's
they are worried about the economy. i think purely politically, obama will be strengthened once we go over. >> ryan lizza, thank very much. it's going to be an interesting couple of days. >> yeah, it sure is. >> thanks, ryan. >>> weapons of war on the streets of los angeles. details of a shocking find in a gun buyback program. [ sniffs ] i have a cold. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! let's say you want to get ahead how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. >>> they are deadly weapons of war no one expects to see on the streets of an american city so
was when hank paulsen said if this doesn't pass there will be no economy on monday. do you think with romney or obama if another such moment occurs the tea party would listen to people like that and still send the economy down the drain? >> the moment that i memorialized my book during the debt ceiling standout that i think is illustrative, we have the thinking of the more conservative plank of the republican party and it was the house leadership, boehner, cantor etc. and i'm asking your question in a general way because i can't speak specifically to the future. they were concerned. they believed that risking the credit of the united states would be a dangerous proposition. they believe default would be a terrible thing for this country. a lot of their fellow members did not believe that, they brought in this treasury undersecretary jay powell who serve for the herbert walker bush administration. what would happen if wanaque's second came and when the debt ceiling was not raised and he gave a powerpoint presentation of when social security checks would go through, how immediately
's chairman of swiss america. that's stay on the economy. i agree with you, no deal. i think i've called it the obama cliff and said we should swan dive over the cliff because it would be one thing democrats could get through their head when they cut spending. >> i agree completely. this is crazy that we're even having that discussion, eric. august spending 256-171 the ryan budget was passed extending tax relief for all americans. 19 democrats voted for that. it was handed to mr. reid, mr. obama starting the warfare about taxing the rich. reid sat on the bill. why didn't he bring it up for a vote? why didn't it get fair debate? mr. reid hasn't passed a budget and we going to believe they're serious about the fiscal problems? let's go offense the cliff. >> we have two cameras outside the white house right now. that one i believe is perched on pennsylvania avenue and we have another camera which is perched facing the side entrance. those are the suvs that likely boehner, mcconnell, pelosi and reid will come out of. let's talk about the deal. what if there's a deal, craig, for, i don't know
'm calling the obama coalition. all of the folks that we've been talking about who came together and decided that they wanted to give him four more years shs despite where the economy is, despite the right track, wrong trax. we're with him. >> but who out of that coalition? is there a person? >> i yield to the lady. >> to my left. >> yes. >> and we didn't coordinate. but, for me, it doesn't go to one particular person. it goes to latinos. it goes to the latino electorate which really flexed its political message. latinos are pushing red states into light red, into purple and, eventually, it's going to take a little bit. texas isn't going to turn blue in four years or eight years, but it's going to turn these traditional ri red, southern states. so the latino muscle is moving the political landscape. >> i give him some time. he's in a tight position because he would not make it statewide in texas. so he doesn't have a jumping off point. and he's term-limited as mayor. but he's going to have to bide his time and come back. >> i would have to say if you did have a democrat are texas who could w
. president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. if they have only four days to reach an agreement. the u.s. economy will grow over the so-called " fiscal cliff. " that's when automatic tax increases and spending cuts could take effect. retain a deal before then will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of a house representatives are watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. i told the president that i would be happy to look at whatever he proposes but the truth is we are coming up against a hard deadline here and as i said this is a conversation we should have made months ago. democrats want to extend the bush era tax cuts to everyone except those americans making too much and $50,000 or more a year. many republicans remain against any tax increases. >> former president george h. w. bush is still in intensive car
obama. but next, ralph nader has had enough. he says that both parties in washington are flailing. and that is why the economy is and that is why the economy is failg. [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. anif it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carage. citi price rewind. start saving at citi.com/pricerewind. ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. when some people struggle with their mortgage payments, they become frozen, but the people who take action, are far more likely to get the most positive outcome. call this free government program for the option that's right for you. neil: the economy is stumbling
of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very difficult to maintain our commitments to the elderly. if you think it's a great idea if you are 40 right now and it actually happens, you will have a lot of tears. host: greg in north carolina, independence, for peter morici. caller: dr. morici, i guess my question is pretty simple. i just want to know, i noticed that republicans and democrats squabble about a lot of stuff, they are partisan about a lot of issues, but nobody is partisan about the division of motor vehicles. can we afford something like that? can we afford more and more legislation glacially moving in the wrong direction? people are looking
and this is something that the press doesn't pay attention to, greg. i think that if obama has to start a second term with everybody saying, oh my gosh, the sky is falling, the economy is going to hell, then consumer confidence thinking, that's not good news for democrats, so why would you think it's good news for democrats? >> because you just sounded like a republican. >> oh sclop! get out of here. >> you're saying that hurts the party. welcome to the republican party. >> rags nam people say that's not a good thing to do. i would hope that rationality before new year's eve would land like an alien rocket ship in washington and get these people to the table. >> alice, you're sane, i believe. what do you make of this? the point i'm trying to make is, why the democrats scared of the fiscal cliff when it defines, basically, their ultimate dream. >> the democrats are anxious, they're embracing the fiscal cliff. we have obama and democrats in the convertible thunderbird ready to put the pedal to the metal on the fiscal cliff. they can cut taxes, spending, and blame the gop. the gop is doing the smart thi
stifle economic growth. president obama said two years ago when he didn't do this two years ago, he said the wrong thing to do in a bad economy is to raise taxes. now suddenly both sides are considering doing exactly that. you've got three different studies of that shown that if you raise these taxes, you are going to kill somewhere between $700,000 and -- 700,000 and 1.1 million jobs. but all that not be standing, it has nothing to do with the issue. the issue has been, will continue to be, spending. >> okay. >> that's what no one wants to talk about. >> no, wait a second, brent. everybody wants to talk about it. i mean everybody says we have to do something about spending in this country. today the treasury secretary geithner came out and said we are going to approach, you know, the debt ceiling much more quickly than we anticipated. so everybody, republican and democrat. and i was just saying to sean here's the president saying we've got to do something about spending. simpson-bowles was asking for $2 billion or something in tax hikes. he's down now to 1.2. saying we have to do someth
to constructively enter the economy. >> counselor? >> i would concur on those points. i'm grateful i live in a state that has a governor deval patrick and living in a country with president barack obama. one of the reasons you just stated in creating better access to both educational opportunities and health care which is eliminating all of those other disparities. it's important we not upset about the 99% of the 47% and just remember that there are people behind all of those percentages, and people that has been struggling and people living in poverty. if you talk about the shrinking middle class, who were the joining? and so i want a president and governor and a major that believes in making those critical investment in physical infrastructure and in people that support the rule that everyone has to play in the economy including giving people in poverty on a pathway to self-sufficiency that is just as important. >> a round of applause for the panel. [applause] jim bendat correspondent for msnbc come i tv and sky news is next on booktv. for the next half hour, he talks of the history of presidentia
.com/booktv. >> enter now eboo patel, a member of president obama's inaugural council argues that america should strive to be a pluralistic economy where religion is a bridge to cooperation rather than official between people. this is about an hour 20. [applause] >> good evening and thanks for being here. i am very excited to be with my newest best friend, eboo patel. i have had a wonderful time reading his book. i'm very excited about having a conversation with him and in drawing him into that -- drawing you when that conversation. one of the delights is his disclosing something of his own spiritual practice, particularly during the holy season of ramadan. he had me when he said that prior to entering the day he would get up, have his small breakfast and then have a time with a poem. one of my favorite poets. i thought it would be wonderful if we all could have a moment of centering around one of his favorite running pomes. how does that sound? all right. thank you for that invitation and thank you all for being here this is a poem that i actually first heard in turkey. come, come, whoever you are, wo
with the ceo. >>> starting today, lawmakers and president barack obama will get back to work on a 50-yard clip and they want the president to miss the deadline. >> reporter: economists warn going over the cliff will hurt our already struggling economy but both parties stand to get some of what they want if spending cuts go into effect next tuesday and here is why. democrats say republicans want to go over the cliff and tax rates have gone up on all americans and they would then be voting for tax cuts as opposed to tax increases they would now have to reach a deal. put the president and the democrat particular party would win. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they are asking all workers from d.c. washington area stores to coliseum together and he said he wants to send a respectful but potent issue. we have more times with
following president obama's announcement that he would cut his vacation short to deal with fiscal cliff negotiations. hoping that the real estate market would bolster the economy in 2013. we are learning that holiday sales this year were the weakest since 2008. they had a grim outlook for a fiscal cliff deal and the impact of the tragedy in newtown. on the radar this morning, chilling details in the christmas eve firefighter ambush. we could find out soon who will be saying aloha to the senate and a broken record in the house of representatives. new details out of webster, new york. william spangler set a car and house on fire and ambushed firefighters, opening fire on them as they arrive on the scene. police found a note he left behind saying he wanted to burn down the neighborhood and do what i like doing best, killing people. a convicted felon who spent 17 years in prison for killing his grandmother with a hammer was armed with three firearms including a bushmaster, the same gun used in the school massacre. he may have killed his sister and the home had human remains believed to be h
they want but let's make sure that middle class families and the american economy, in fact, the world economy are not adversely impacted because people can't do their jobs. all right. thank you very much, everybody. >> all right, president obama speaking at the white house after an 11th-hour meeting with congressional leaders on the fiscal cliff. tom, you have been covering this pretty much every day. it looks to me like there are two big headlines here. one, still no deal and, two, he's talking about a bill being presented to the senate, an up- or-down vote that would prevent a tax hike for middle class americans, protect unemployment insurance and that is not all. >> make no mistake, that is a direct shot at the republicans, though. the president knows full well the senate is controlled by democrats. at what point you would be knocking that ball over to the house would be up to house republicans as to who they would be the last ones with up- or-down votes on this. >> more to come on this from you, tom, and our team of reporters on the news edge at 6. the 5 continues after this. have
limit is $16.4 trillion. he says the obama administration will work to make sure the u.s. does not default on loans right away but the debate will be another drag on the economy. with us, the chief business correspondent for u.s. news and world report, rick newman, and author of rebounders, how winners pivot from setback to success. talk about the debt ceiling for us, first of all, welcome. talk about the debt ceiling and how it affects us. we here horror scenarios about the red -- credit rating. >> one good thing you can say about reaching the debt limit is it's not a surprise. everybody has known this is coming up. the government will continue to function for a couple more months. emergency measures will be used to keep the money flowing, so to speak. this is unrelated to the fiscal cliff, so it's an additional problem that everybody has to deal with. of course the worst thing is we know how horrible it was the last time the debt ceiling needed to be raised in the summer of 2011, it went down to the wire and it looked as if there was a chance the united states would not raise
away zip like pbs, i love big bird. i'll call it the economy tax. it's been crushing. i've been in business for 25 years. have i no idea what you're talking about. >> where was obama tonight? he went in there disarmed. what was romney doing? he was winning. >> you'll get your chance in a moment. i'm still speaking that wasn't a question, that was a statement. >> i don't look at my pension. it's not as big as yours. >> you said in the rose garden the day after the attack it was an act of terror. >> let me call it an act of terror -- >> can you say that a little louder, candy? >> he did call it an act of terror. >> hi a binder full of women. >> we also have fewer horses and bayonets. >> here's old moderate mitt. where you been, boy. i missed you all these last few years. >> if you can't change washington from inside the white house, then let's get you the plane ticket back to chicago you've earned. >> don't move. vote. voting is the best revenge. >> i ask people to vote for the love of country. >> it is election day, america. >> today's a huge day? >> yes, people are choosing on t
now it's a matter of hours away. >> i love big bird. the economy tanks, it's been crushing. i have been in business for 25 years. i have no idea what you are talking about. >> where was obama tonight? he went in there disarmed? romney was winning. >> you will get your chance in a moment. i'm still speak. >> mine is not as big as yours. >> you said in the rose garden it was an act of terror. >> can you say that louder? >> he did call it an act of terror. >> the binders full. >> we also have fewer bayonets. you say them louder and somehow that makes a difference. >> all tied up. our brand-new numbers in the race for president. >> here's old moderate mitt. i missed you these last few years. >> if you can't change washington from inside the white house, let's get you the plane ticket back to chicago you earned. >> voting is the best revenge. >> for revenge i asked the american people to vote for love of country. >> election day, america. >> people are choosing on the direction of the country. >> just four hours from now, the polls will close. >> it's too close to call for virginia and
't be in this circumstance, you know, president obama actually extended these tax cuts with the intent that washington would take a more reasonable look at how we can phase in fiscal policy in a way that wouldn't do damage to the overall economy. and i think that's something we really have to be concerned about. you said earlier, you know, the average worker making 3,500 -- would see their taxes go up 3,500 should we go over the fiscal cliff. that's a significant impact to individual citizens. and so we should be very concerned about that and what that might mean to the broader economy, which some of us, i think, could put us in a mild recession next year. >> what is it with washington? what is it with our elected leaders they can't come up with a deal at this point? they have to wait to make it a cliff hanger. we saw this with the debt ceiling debacle last summer and now again. do they think this is a popular move? a good move? what's wrong with them? >> alison, you know, look, the real travesty of all of this is uncertainty. i know a number of your business guests will come on and say, look, we're corpora
your economy moving faster and put more americans back to work. how we get there god only knows. >> president obama doesn't see it that way. >> at some point there's got to be i think a recognition on the part of my republican friends th that, you know, take the deal. they will be able to claim that they have worked with me over the last two years to reduce the deficit more than any other deficit reduction package. >> the ceo of pimco, one of the world's largest investors in bonds. mark standee is chief investor at moody's. and christine romans, host of "your bottom line." gdp, the broadest measure of the economy grew at an annual rate of 3.1% over the summer. we just got those numbers this week. that's more than double the rate of previous quarter. you can see the chart there. it's been choppy but looks like we're going in the right direction. america's economy is gaining pace, doing better than expected. we've been saying that 2013 could be the year of a real economic renaissance in the united states or at least the beginning of one. so talk to me about the consequences to our
down two months from now. and from a market stand point and an economy standpoint, that is much, much scarier. >> so is there anyone left? >> your guess is as good as mine. white house people will tell you obama refuses to negotiate. he thinks the public is behind them. so i think that's the huge danger that nobody is focusing on right now is the debt limit. that is not part of the discussions and that means we're going to go through this all again in 60 days and 90 days. >> and tim said we're already at the limit. do we have 60 days? >> we do. the treasury can pursue extraordinary measures. it gives the government more money and will put off the actual kind of "d" day for the u.s. defaulting on its debt, only by a week or so. but, again, the real thing that should be scaring everybody is the thing that's coming in a couple of months. >> you know, we heard the president talking today about how mind boggling this is. you know, that normal people don't resolve their differences this way. i don't know how you can shuffle around money. that really is mind boggling. thank you. up next, the
aspects do the fundamentals of our country work and not work. barack obama has insisted it won't be enough to cover the downturn and the economy needs fundamental reform and invention. >> i know that we'll have to overcome our doubts and our divisions and we're going to have to overcome a determined opposition of powerful special interests before we can truly reform a broken economy and advanced opportunity. >> if we take seriously the idea of emerging from the great crisis into a radically new economy, be there are core questions about what that economy will look like that almost no one in our political class is asking. what is the proper role of finance, a sector that accounted for an astounding report of corporate profits. do we want one of made of distributed enterprises with new business and business model. in other words, if we were creating a new economy for the future from scratch, one that was prosperous, what would it look like. i'm really happy to have you big thinkers here to talk about this. the first one i want to talk about is work. we had some interesting information on con
done because as he heard joe lieberman said, the consequences would be huge. the economy could potentially slip back into recession. the white house has described this as a working vacation for president obama, but the reality is that negotiations are largely deadlocked on all sides. there have been a few talks going on at the staff level, but the real bulk of this work is going to get done when lawmakers return to washington later this week after the christmas holiday and resume manageses. that's when we're going to see the focus really shift away from the house and on to the senate. of course, speaker boehner tried to get his plan b, alternative bill through the house. republicans rejected that, couldn't get enough votes for it. it was really a blow to speaker boehner. now we see the focus shift to the senate. senate majority leader harry reid, minority leader mitch mcconnell will try to hammer out a deal and by all accounts, it will be a smaller deal, thomas. >> nbc's kristen welker traveling with the president in hawaii. kristen, thanks so much. joining us to talk about the
was six months into nrlt vention in korea. eisenhower was struggling with a post-war economy. in 1958, u.s. unemployment spiked to 7%, which was double when he was elected four years earli earlier. what are the lessons for president obama and the democrats? should they worry about a six-year itch? i say maybe not so much. and here's why. in 2010, the party lost 63 seats in the house, 6 seats in the senate. president obama famously called it a shellacking, and it was. there's reason to think he'll do better this time around. a likely scenario, he limits his losses or even adds seats in the house. obama is almost guaranteed to do better in the house. frankly, hard to do worse than the first term. and democrats have this helpful antidote. hold on to control of the senate. the president can declare partial victory for that. that was the importance of democrats adding two senate seats, sitting at 55. republicans have to win been, winning six senate seats is big. that's what they would have to do to get control in 2014. the gaggle will be back right after the break. the good, the bad, and the
's about all our economy can sustain. >> we will see how much the economy can sustain. thanks for joining us. up next, the cabinet shuffle. who ultimately holds the power as president obama builds a team for his second term? first the amr moment of 2012 that left us a little starstruck. that's andrea with bono. >> an exclusive rock star, humanitarian, global crusader against hiv-aids and poverty, bono is here. we are live in washington with bono. >> i think people are sending a message to this g-8 please don't let it be a talking show. we know iran is important. we know the euro is important. critically important if you live in europe as i do. actually, the idea of taking 50 million people out of poverty over the next ten years if that's possible, wow, after the stuff we have done on aides as malaria. that's the reason to get out of bed, mr. president. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. jus
in session tomorrow, ready for a vote that could impact the economy for better or for worse. kate? >> kristen welker at the white house. nbc's moderator of "meet the press" david gregory joins me now. as we've said, david, you sat down with president obama this afternoon for an exclusive interview that airs tomorrow morning, but give us a hint. is he optimistic? do you come away with any hope that we're going to have a deal before the deadline? >> i'd say a couple things. i think the president continues to be optimistic, but he, i think, in part is doing the interview on "meet the press" because he wants to keep the pressure on republicans to get something done and made very clear in the course of the interview that there is a political cost to be paid if there is not a deal, a cost that i think he believes will be paid mostly by republicans if they don't get something done. he's gone out of his way to really cast his argument as one of protecting the middle class and that the middle class, 98% of americans don't want to see their taxes go up. if there is a failure to act. that said, the pres
hammering away at president obama. >> this was the year the size of our debt, all $16 trillion of it, surpassed the size of our entire economy. it's a grim milestone, one of many we'll have to bear if we don't come to grips with it. the president's solution of raising tax rates would still leave red ink for as far as the i can see. >> reporter: president obama landed in ha for the christmas break. on friday, the president said he believes it's still possible to avoid the fiscal cliff, but also acknowledging the political reality by pushing a scaled-back plan for cutting taxes on the middle class. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us, agrees that tax rates shouldn't go up for the other 98% of americans, which includes 97% of small businesses. >> reporter: the president wants that middle class tax cut and he wants to preserve unemployment benefits that are set to expire at the end of the year. in washington, steve sintani, fox news. >>> another big story today, it's
have a powerful impact on the economy can washington actually come to an agreement and what's going on behind the scenes? don peebles, chair monday and ceo of the peebles corporation, don was a leading fund-raiser for president obama. good to see you. >> thank you. >> a lot of drama happening in washington. let's talk about the fiscal cliff. what's your take on how this plays out? now with just a few days left in the year to get this deal done. >> i don't think they're going to come back after christmas. i think that we will see them back in early january to make a compromise. i think that comp promise is gog be in between where the president is and where the speaker is. >> you say we go off the fiscal cliff then? >> yes, do. >> do you think we will see the economy hit recession? that was the expectation, right? >> no. that is the expectation but i don't think so. i think there's been a lot of drama, especially on the tax increase side. the tax increase side is do symbolic. at the end of the day it's not going to have any impact on the deficit or controlling our spending. what's goi
will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate democratic leaders is trying to figure out if the president's scaled back bill can pass congress at the 11th
. it will be a big negative for the economy if taxes went up on 100 million americans. they are not that far apart right now, the president and speaker boehner. there have been a lot of partisan attacks. my republican friends say president obama has not been serious about putting real spending cuts on the table. that is a problem. one of the biggest drivers of hollen desk are these big entitlement programs. it is the best drivers of our debt are these big -- one of the biggest drivers of our debt are these entitlement programs. host: talk to us a little bit about the message that was sent to speaker boehner by his rank- and-file by not getting the votes for plan b. how will this affect activity on wall street? guest: negatively. the stock market tumbled quite a bit yesterday. wall street wants a deal that is good for the economy. i do not believe we should be raising taxes on anyone. if i'm with the president, i would extend tax rates -- if i was the president, i would extend the tax rates for one year. in terms of why the republicans had his revolt against their own speaker, that was really surpr
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